BIND Therapeutics Announces Global Collaboration with Pfizer to Develop and Commercialize Multiple Accurins
News Apr 04, 2013
BIND Therapeutics announced that it has entered into a global collaboration agreement with Pfizer Inc. to develop and commercialize Accurins utilizing select small molecule targeted therapies. The collaboration aims to employ BIND’s Medicinal Nanoengineering® platform to impart tissue and cellular targeting capabilities to molecularly targeted drugs.
Under the terms of the agreement, Pfizer will have the exclusive option to pursue development and commercialization of the Accurins selected by its team. Both companies will work together on preclinical research, and if Pfizer exercises its option, Pfizer will have responsibility for development and commercialization of the selected Accurins. BIND could receive up-front and development milestone payments totaling approximately $50 million and approximately $160 million in regulatory and sales milestone payments for each Accurin commercialized as well as tiered royalties on potential future sales.
“Pfizer, a global leader in the development of innovative, molecularly targeted therapies is an outstanding partner and this agreement demonstrates the potential of our platform to create targeted Accurins with optimized therapeutic properties,” said Scott Minick, President and CEO of BIND. “This is our second collaboration focused on developing novel Accurins based on BIND’s platform for targeted and programmable therapeutics and further validates the importance of targeted nanomedicines as a strategic technology for the pharmaceutical industry.”
"Pfizer has a strong legacy in targeted small molecule drug discovery and development and continues to be on the cutting edge of innovation in this area," said Rod MacKenzie, Senior Vice President and Head of PharmaTherapeutics R&D at Pfizer. "We look forward to working with the team at BIND Therapeutics to create targeted Accurins with the aim of optimizing the therapeutic potential of future small molecules."
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